Tuesday, December 9, 2014

Eurusd Nearing The Bearish End?

On 21st November, I saw a need for more bearish move of the Eurusd. The basis of this analysis is the continuation of the terminating fifth wave of the last swing-leg of the bearish corrective triangle which started in 2008.

According to my various projection tools, I saw a possibility for 1.2150 and 1.8850 support zones . I went out of my trades with 180 pips at 1.2280

There is a strong possibility for further bearish push before the long awaited rally could start.Presently on the 4 hour chart, price seems to complete the 4th wave of an ending diagonal to terminate the 5th wave on a grand style.

With bullish divergence on the daily chart, I can only think of a bullish move. If the 5th wave of the diagonal dips further with a three-wave intra day drive, there could be an opportunity to take a nice trade with a very good risk reward ratio.

I will post updates as market unfolds.

At the moment let me enjoy the bullish move on Gold after cashing out good profits on Eurusd and Usdcad

Hello bro, no one knows exactly when the bullish move will start, we just have to follow price and react. Although we can forecast possible zones of reversal, we still must wait and see how price reacts there. I will always update you as it goes. ....But...how much do you want to raise $12.30 to before christmas when tonight is christmas eve.I will send you a PM and add you to my mailing list....Thanks